Grace Cottage Foundation
- Assets
- $10.4m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Townshend, VT
- Founding
- 10/1994
- Data as of
- 09/2021
- EIN
- 03-0343282
Organization Overview
Grace Cottage Foundation is located in Townshend, VT. The organization was established in 1994. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace Cottage Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Grace Cottage Foundation generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $1.8m during the year ending 09/2021. While expenses have increased by 10.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FUNDRAISING SUPPORT FOR CARLOS G. OTIS HEALTH CARE CENTER, INC., WHICH PROVIDES HEALTH CARE SERVICES TO THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRACE COTTAGE FOUNDATION SUPPLIES FUNDRAISING SUPPORT FOR AN AFFILIATED NONPROFIT, CARLOS G. OTIS HEALTH CARE CENTER, INC., WHICH PROVIDES HEALTH CARE SERVICES TO THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Clark President | OfficerTrustee | 1 | $0 |
Patricia Mack Secretary | OfficerTrustee | 1 | $0 |
Suzanne Welch Vice President | OfficerTrustee | 1 | $0 |
David Plants Treasurer | OfficerTrustee | 1 | $0 |
Douglas Divello Ceo, Ohcc | Officer | 1 | $0 |
Andrea E Seaton Ex-Officio Executive Director | Officer | 43 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $42,327 |
| Related organizations | $0 |
| Government grants | $25,900 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,623,112 |
| Noncash contributions included in lines 1a–1f | $290,649 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,691,339 |
| Total Program Service Revenue | $0 |
| Investment income | $122,798 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $551,769 |
| Net Income from Fundraising Events | $83,266 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,449,172 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,445,821 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,639 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $13,603 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $332,502 |
| Total functional expenses | $1,837,565 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $671,127 |
| Savings and temporary cash investments | $244,876 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,406,241 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,047,703 |
| Total assets | $10,369,947 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $200,170 |
| Total liabilities | $200,170 |
| Net assets without donor restrictions | $6,443,516 |
| Net assets with donor restrictions | $3,726,261 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,369,947 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Grace Cottage Foundation has recieved totaling $300,300.
| Awarding Organization | Amount |
|---|---|
Pollio Family Foundation Inc Grafton, VT PURPOSE: PROGRAM SUPPORT | $300,300 |
Endowment Analysis
| Beg. Balance | $3,897,999 |
| Earnings | $263,580 |
| Net Contributions | $661,773 |
| Other Expense | $1,097,091 |
| Ending Balance | $3,726,261 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alliance Health Of Quincy Inc Southborough, MA | $18,309,564 | $19,847,469 |
New York State Health Foundation New York, NY | $362,119,820 | $12,287,243 |
Hospital For Special Surgery Fund Inc New York, NY | $132,917,931 | $24,476,361 |
Broadline Risk Retention Group Inc Colchester, VT | $135,251,113 | $22,474,493 |
The Childrens Hospital Of Buffalo Foundation Buffalo, NY | $94,191,581 | $13,115,103 |
The St Francis Hospital Foundation Inc Roslyn, NY | $262,392,526 | $17,931,065 |
New York And Presbyterian Hospitals Healthcare System Inc New York, NY | $3,724,021 | $13,051,406 |
Umh Jgj Corp Binghamton, NY | $8,297,454 | $12,939,554 |
Kaleida Health Foundation Buffalo, NY | $51,635,674 | $6,911,970 |
Commonwealth Of Massachusetts Nage Health And Welfare Trust Fund Quincy, MA | $20,484,486 | $12,264,688 |
Vna Care Network Inc Worcester, MA | $53,895,058 | $9,740,895 |
St Francis Research And Educational Corporation Roslyn, NY | $9,987,779 | $6,062,261 |